Author: Elena Todorova
123jump.com
Last Update: 11:05 AM EDT May 31 2007
On the earnings news front, discount retailer Costco Wholesale added 0.6% after it posted Q3 profit drop of 4.9%, which came in line with estimates. Jewelry seller Tiffany & Co. rose 1% after reporting a 15% rise in Q1 profit, indicating that consumer demand for big-ticket items remains strong. Retailer Sears Holdings reported 20% quarterly earnings increase, but said its U.S store sales decreased. Shares of Sears fell 2.2%.
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